Answer:
Klear Manufacturing
At the inception of the sale and leaseback, Klear should debit cash and credit
c. lease liability.
Explanation:
a) Data and Calculations:
Debit Cash $1.4 million Lease Liability $1.4 million
Debit ROU asset $1.4 million Credit Plant $1.2 million Credit Gain from Sale $0.2 million
b) The sale and leaseback creates a right of use asset as well as a lease liability. Therefore, the Cash account is debited for the cash receipts from the transaction and the Lease Liability is credited. Also debited is the right of use asset with corresponding credits to the Asset account and Gain from Sale.
Which of the following are the characteristics PF change manager?
Answer:
Change management is one of the frequently overlooked elements of any technology implementation strategy. Even if the change is widely understood to improve the status quo, people instinctively stick to comfort zones.
Explanation:
The approach to the "human side" of the change is systematic.They have the senior management's long-term commitment.Each layer includes leaders.They support key players' ownership.They undertake clear, regular, and timely communication.They recognize that company culture is important.You are preparing for the unforeseen.They support those affected by the transformation.Every major change creates problems with human relations. New roles and responsibilities may be requested of employees; new skills and abilities may have to be developed.
Change is inherently unsettling for employees at every level of an organization, employees usually look for strength, support, and direction from senior managers when change takes place.
Large-scale change programs require leaders to take responsibility for changes in their areas of influence. The main way to promote ownership is by involving people in the identification and resolution of the problems. Incentives and rewards will reinforce ownership.
At the end of the day, the cash register's record shows $1,250, but the count of cash in the cash register is $1,245. The correct entry to record the cash sales is
A) Debit Cash $1,245; Credit Sales $1,245.
B) Debit Cash $1,245; debit Cash Over and Short $5; credit Sales $1,250.
C) Debit Cash $1,250; credit Sales $1,250.
D) Debit Cash $1,250; credit Sales $1,245, credit Cash Over and Short $5.
E) Debit Cash Over and Short $5, credit Sales $5.
Answer:
B) Debit Cash $1,245; debit Cash Over and Short $5; credit Sales $1,250.
Explanation:
If the cash register's record shows the amount of $1,250 while the count of cash in the cash register shows the amount of $1,245 which means that the Cash is Over and Short by $5.
Therefore the correct entry to record the cash sales is to Debit Cash For $1,245; Debit Cash Over and Short for $5 and Credit Sales for $1,250.
Debit Cash For $1,245
Debit Cash Over and Short $5
($1,250-$1,245)
Credit Sales $1,250
(To record cash sales)
will i be rich from business or entrepreneurship
A foreign company has offered to buy 75 units for a reduced sales price of $320 per unit. The marketing manager says the sale will not affect the company's regular sales. The sales manager says that this sale will require variable selling and administrative costs. The production manager reports that it would require an additional $20,000 of fixed manufacturing costs to accommodate the specifications of the buyer. If Fruit Computer Company accepts the deal, how will this impact operating income
Answer:
an increase in the operating income by $16,322
Explanation:
The computation of the impact in the operating income is given below:
Variable cost of 75 units (1300000 × 75 ÷ 12700) 7,678
Sale price of 75 units (75 × 320) 24,000
Increase in operating income (24000 - 7678) $16,322
hence, the impact in the operating income is that there is an increase in the operating income by $16,322
Find the exact interest. Use 365 days in a year, and use the exact number of days in a month. Round to the nearest cent, if necessary. A loan of $9500 at 7.4% made on July 25 and due on November 30 Group of answer choices
Answer:
$246.53
Explanation:
First, calculate the number of days the loan remains outstanding
Loan term = November 30 - July 25 = 128 days
Now use the following formula to calculate the interest
Interest = Loan amount x Interest rate x Loan term / 365
Where
Loan amount = $9,500
Interest rate = 7.4%
Loan term = 128 days
Placing values in the formula
Interest = $9,500 x 7.4% x 128/365
Interest = $703 x 128/365
Interest = $246.5315068
Interest = $246.53
Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $87,000, and it estimates that 4% will be uncollectible. Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has: (a) a $1,479 credit balance before the adjustment. (b) a $435 debit balance before the adjustment.
Answer:
a. Balance in the allowance doubtful account = $1,479 (Credit)
Allowance for doubtful accounts to be maintained = 4% of the accounts receivables = 4% * $87,000 = $3,480
Net amount of bad debt to be recorded = $3,480 - $1,479 = $2,001
Date Account titles and explanation Debit Credit
Bad debt expenses $2,001
Allowance for doubtful accounts $2,001
(To record entry of bad debt expenses)
b. Balance in the allowance doubtful account = $435 (Debit)
Allowance for doubtful accounts to be maintained = 4% of the accounts receivables = 4% * $87,000 = $3,480
Net amount of bad debt to be recorded = $3,480 + $435 = $3,915
Date Account titles and explanation Debit Credit
Bad debt expenses $3,915
Allowance for doubtful accounts $3,915
(To record entry of bad debt expenses)
According to the National Information Infrastructure Protection Act of 1996, the severity of the penalty for computer crimes depends on the value of the information obtained and whether the offense is judged to have been committed for each of the following except __________.
a. to harass
b. for purposes of commercial advantage
c. in furtherance of a criminal act
d. for private financial gain
Answer:
Option a: To harass
Explanation:
The National Information Infrastructure Protection Act of 1996 did modified which computer fraud and abuse act.
Computer Crime
This is simply regarded as any form of violations of criminal law regarding the knowledge of computer technology for their perpetration, investigation, or prosecution. It is often called cybercrime. The Computer Fraud and Abuse Act (CFAA) is set up by the government as a federal law stating and showing the civil liability for gaining unauthorized access to a computer and causing damage to any computer. it acts, states and formalizes laws to fight threats from computer related acts and offenses.
The forms of cybercrime against individuals includes harassment, Phishing, Pharming, Fraud, and Identity Theft.
The annual benefits of $4000 every year for three years may be obtained for an investment on a production equipment costing $20,000 with a salvage value of $5,000. If MARR is 6%, choose the right equation to determine the NPW.A) NPW = 20,000(F/P,6%,3) + 4,000(F/A, ^%, 3) + 5000B) NPW = -20000 + 4000(P/A,6%,3) + 5000(P/F,6%,3)C) NPW = 20,000(P/F,6%,3) + 4000(F/A,6%,3) + 5000D) -20000(P/F,6%,3) +4000(P/A,6%,3) + 5000(P/F,6%,3)
Answer:
The right equation to determine the NPW is:
= B) NPW = -20000 + 4000(P/A,6%,3) + 5000(P/F,6%,3)
Explanation:
a) Data:
Present value cost of production equipment = $20,000
Annual benefits = $4,000
Period of useful life = 3 years
MARR = 6%
Salvage value = $5,000
Present Value Annuity Factor for annual benefits for 3 years at 6% = 2.673
Present Value Factor for Salvage Value after 3 years at 6% = 0.840
Present Value Factor for the initial cost of investment = 1
Therefore, to obtain the NPW of the investment, the correct equation is:
B) NPW = -20000 + 4000(P/A,6%,3) + 5000(P/F,6%,3)
where NPW = Net Present Worth
P/A = Present Value Annuity Factor
P/F = Present Value Discount Factor
At December 31, 2017, before any year-end adjustments, Macarty Company's Prepaid Insurance account had a balance of $2,700. It was determined that $1,500 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be:____________a) $1,200.b) $2,700.c) $1,900.d) $1,500.
Answer:
$1,500
Explanation:
Macarty company prepaid insurance account had a balance of $2700
It was determined that $1500 of the prepaid insurance had expired
Therefore the adjusted balance for insurance for the year is $1500
The owner of a fleet of taxis contracted with a dealer in petroleum products for the purchase and sale of the taxi fleet owner's total requirements of gasoline and oil for one year. As part of that agreement, the petroleum dealer also agreed with the taxi fleet owner that for one year the petroleum dealer would place all his advertising with the taxi fleet owner's wife who owned her own small advertising agency. The wife at the time had just been offered another advertising contract with a soap company. When the wife was informed of the owner-dealer contract, she declined to accept the account from the soap company because she could not handle both the petroleum dealer and the soap company accounts during the same year. The wife was an intended beneficiary under the owner-dealer contract. The taxi fleet owner performed his contract with the petroleum dealer for six months, and during that time the petroleum dealer placed his advertising with the wife. At the end of the six months, the taxi fleet owner and the wife were divorced, and the taxi fleet owner then told the petroleum dealer that he had no further obligation to place his advertising with the wife. The petroleum dealer thereupon notified the wife that he would no longer place his advertising with her.
In an action against the petroleum dealer for breach of contract, the wife will probably: _____________
Answer:
succeed
Explanation:
In an action against breach of contract this woman is going to succeed. Breach of contract means going against the terms of a contract. A breach of this nature could be in the form of late payment or it could be failure to deliver. The reason that this wife would succeed is given the facts that we have available on this case. the taxi dealer as well as the owner of the fleet had no rights to do any modifications to the existing contract without first notifying the wife, who hen has to give her consent. Discharging the duties that are owed to the wife is a violation here and the will would succeed if acction is taken against this dealer.
true or false
What makes marketing harder is that it is hard to understand the needs and wants of the customers.
Answer:
true
Explanation:
The needs and wants of the customers is an aspect that can change so it does make marketing harder.
Classify the following markets as perfectly competitive, monopolistic, or monopolistically competitive, and explain your answers.
a. wooden no. 2 pencils
b. copper
c. local telephone service
d. peanut butter
e. lipstick
The following data were accumulated for use in reconciling the bank account of Kaycee Sisters Inc. for August 20Y9:
a. Cash balance according to the company's records at August 31, $27,060.
b. Cash balance according to the bank statement at August 31, $28,460.
c. Checks outstanding, $5,490.
d. Deposit in transit, not recorded by bank, $4,410.
e. A check for $480 in payment of an account was erroneously recorded by Kaycee Sisters Inc. as $840.
f. Bank debit memo for service charges, $40
Required:
Record the effects on the accounts and financial statements of the company based upon the information above.
Answer:
Cash account reconciliation
Balance: $27,060
- Bank charges: ($40)
+ Error in recording check: $360
Reconciled cash account: $27,380
Bank account reconciliation:
Balance: $28,460
+ Deposit in transit: $4,410
- Checks outstasnding: ($5,490)
Reconciled bank account: $27,380
Expected Return American Eagle Outfitters (AEO) recently paid a $.42 dividend. The dividend is expected to grow at a 15.90 percent rate. At the current stock price of $24.47, what is the return shareholders are expecting?
Answer:
17.89%
Explanation:
according to the constant dividend growth model
price = d1 / (r - g)
d1 = next dividend to be paid
r = cost of equity
g = growth rate
24.47 = (0.42 x 1.1590) / (r - 0.1590)
24.47 x (r - 0.1590) = 0.487
(r - 0.1590) =0.01989
r = 0.1789 = 17.89%
Write a Story for Kumquat
Acoma Co. has identified one of its cost pools to be quality control and has assigned $125,000 to that pool. Number of inspections has been chosen as the cost driver for this pool; Acoma performs 25,000 inspections annually. Suppose Acoma manufactures two products that consume 10,000 (Product 1) and 15,000 (Product 2) inspections each. Assume that Acoma manufacturers only the two products mentioned and they consume 100 percent of the company’s quality inspections.
Required:
Using activity proportions, determine how much quality control cost will be assigned to each of Acoma’s product lines.
Answer:
Acoma Co.
Quality control cost assigned to each product line:
Product 1 Product 2
Overhead assigned $50,000 $75,000
Explanation:
a) Data and Calculations:
Estimated annual cost of quality control = $125,000
Estimated annual inspections = 25,000
Overhead rate per inspection = $5 ($125,000/25,000)
Product 1 Product 2
Inspections consumed 10,000 15,000
Overhead rate/inspection $5 $5
Overhead assigned $50,000 $75,000
Assume you are a brand manager of a clothing brand that offers formal clothing for gents in mid-tier market segment. The brand is constantly experiencing low sales for last six months. Being the brand manager you are given a task of carrying out the research to identify the problem. Explain in detail (step-wise) the market research you will carry out to identify the cause. Also provide the plausible trends (outcomes) of the research. You may assume any detail (such as brand name, location, etc.) yourself that is not mentioned here and may be needed for solving the problem. However, mention those details in your solution.
Answer:
Following steps are followed to carry out research for declining sales,
Define the problem
List possible solution
Evaluate each alternative solution
Finalize the solution
Implement the solution
Measure results
Explanation:
Sales is very crucial element for any business. The declining sales at gents clothing brand has created a problem for business managers. The declining sales will results in many problems like, inventory obsolete issues, lesser profits, increase cost and similar. The main reason for declining sales could be change in fashion or trend. Gents clothing is very much impacted by celebrities. If some popular celebrity has changed its way of dressing the impact can be observed in entire fashion industry.
Scenario 1: Daniel derives utility from only two goods, cake () and donuts (). The marginal utility that Daniel receives from cake () and donuts () are given as follows: = = Daniel has an income of $240 and the price of cake () and donuts () are both $3. See Scenario 1. What is Daniel's income-consumption curve? A. = B. = I 3 C. = D. = E. All of the above
If the Marifield Steel Fabrication Company earned $ 500 comma 000 in net income and paid a cash dividend of $ 300 comma 000 to its stockholders, what are the firm's earnings per share if the firm has 100 comma 000 shares of stock outstanding?
Answer:
$5
Explanation:
Earnings per share is the total profit earned by a firm divided by the number of outstanding shares
Earnings per share = earnings / total outstanding shares
$500,000 / 100,000 = $5
As environmental uncertainties increase, managers must develop techniques and methods for collecting, sorting through, and interpreting information about the environment. Discuss four of these methods, explaining when and why each would be used.
Answer:
Environmental responsibility is essential for companies to remain competitive in the long term, as society increasingly demands that organizations be agents of change in society and contribute to its development.
Therefore, there are several methods for an organization to be environmentally responsible, planning is necessary for the company to understand its micro and macro environment and how to contribute to the reduction of environmental impacts. Through environmental management, a company is able to plan actions that make it more sustainable, it is therefore necessary to use questionnaires, interviews, observation and reports, so that the actions developed are aligned with the environmental purposes of the company and the community where it operates.
Environmental management helps companies achieve total quality, as it reduces waste, improves job satisfaction, creates value for stakeholders and makes the company more positioned in the market.
1. Differentiate barometric price leadership and dominant price leadership.
Answer: See explanation
Explanation:
Price leadership is when a leading firm that is in a particular industry has enough influence such that it can determine the price of the goods in the market. There are three main models of price leadership which are the barometric price leadership, collusive price leadership and the dominant price leadership.
Barometric price leadership is when the price leader acts as the barometer of the prevailing market conditions for the other firms that are in the industry. In such case, when a company sets the price of the products, the other companies do the same.
The dominant price leadership model occurs when a firm has the large amount of market share in the industry.
General Products writes checks that average $26,000 daily. These checks take an average of 6 days to clear. It receives payments that average $28,000 daily. It takes 3 days before these checks are available to the firm. What would be the annual savings if General Products could obtain access to the payments it receives within 2 days
Answer: $1,680
Explanation:
It currently takes 3 days for checks to be available to the firm. If these payments could be available in 2 days then that would mean that they get access to $28,000 a day earlier than normal.
To calculate the annual savings, we shall assume an interest rate of 6% as one is not included.
Annual savings = Interest rate * Average payment
= 6% * 28,000
= $1,680
O levantamento de informações detalhadas dos processos é uma atividade que auxilia na
compreensão do negócio, assim como permite identificar atividades que, por vezes, podem
passar despercebidas na aplicação de outras técnicas.
Nesse contexto, imagine que você é o analista de negócios de uma organização que atua com
reciclagem de materiais sólidos. Essa organização possui diversos processos, dos quais
podemos destacar o recebimento do material, a separação por categorias e o encaminhamento
do material separado aos distribuidores.
Inicio
Receber
Material
Separar
material
Encaminhar
material separado
Fim
Dessa forma, você, como analista de negócios dessa organização, decidiu utilizar a técnica de
observação pessoal para realizar o levantamento detalhado desses processos.
Considerando as características da técnica de observação pessoal, descreva as atividades
que você executará para observar um desses processos, destacando as ações que
devem ser realizadas para a correta aplicação da técnica.
Name the device that are to measure volume of a liquid
homeworklib On January 1, 2024, an investor paid $311,000 for bonds with a face amount of $375,000. The stated rate of interest is 8% while the current market rate of interest is 10%. Using the effective interest method, how much interest income is recognized by the investor in 2024 (assume annual interest payments and amortization)
Answer:
$37,500
Explanation:
Calculation to determine how much interest income is recognized by the investor in 2024
Using this formula
Interest income=Face amount *Current market rate of interest
Let plug in the formula
Interest income=$375,000*10%
Interest income=$37,500
Therefore how much interest income is recognized by the investor in 2024 is $37,500
Suppose Dansko Integrated has the following results related to cash flows for 2020:
Net Income of $6,800,000
Increase in Accounts Payable of $200,000
Decrease in Accounts Receivable of $800,000
Depreciation of $1,600,000
Increase in Inventory of $300,000
Other Adjustments from Operating Activities of $400,000
Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts in thousands.
Required:
What is the Net Cash Flow from Operating Activities?
The Net Cash Flow from Operating Activities is $9,500,000.
Net Operating ActivitiesNet Income $6,800,000
Adjustment:
Increase in Accounts Payable of $200,000
Decrease in Accounts Receivable $800,000
Depreciation of $1,600,000
Less Increase in Inventory ($300,000)
Other Adjustments from Operating Activities of $400,000
Net Cash Flow from Operating Activities $9,500,000
Therefore the Net Cash Flow from Operating Activities is $9,500,000.
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Georgetown Retail Outlet provided the following financial information: Accounts Receivable balance as of 1/1/2017 $110,000 Accounts Receivable balance as of 12/31/2017 $120,000 Net Credit Sales for the year 2017 $839,500 Cost of Goods Sold for the year 2017 $486,910 Calculate Accounts Receivable Turnover.a. 7.30 days.b. 344.83 days.c. 01.06 days.d. 50.00 days.
Answer: 7.3 times
Explanation:
The Accounts Receivable Turnover Ratio is an activity ratio that shows how well a company collects the debts owed to it as well as how well it gives out credit.
It is calculated by the formula:
= Net Credit sales / Average Accounts Receivable
= 839,500 / ( (110,000 + 120,000) / 2)
= 839,500 / 115,000
= 7.3 times
Suppose you pay $50 to enter into a raffle with $1,000 prize. If you have a 3% chance of winning comma the expected value of your ticket is________.
Answer:
$-20
Explanation:
Calculation to determine the expected value of your ticket
Using this formula
Expected Value =∑ payoff *Probability
Let plug in the formula
Expected value of ticket =950 ∗.03+(−50) ∗(100%-3%)
Expected value of ticket =950 ∗.03+(−50) ∗.97
Expected value of ticket=−20.
Therefore the expected value of your ticket is $-20
The expected value of your ticket is -$20.
What is the expected value?The expected value is the summation of the multiplication of some random values with their probabilities of occurring.
The expected value estimates the chance that a favorable outcome will result.
Note that the cost of entering the raffle must be incurred whether the prize is won or not.
Data and Calculations:Cost for raffle = $50
Prize for raffle = $1,000
Probability of winning = 3%
Probability of losing = 97% (100% - 3%)
Expected value of winning = -$20 ($1,000 x 3% -$50)
Thus, the expected value of your ticket is -$20.
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the beginning of the year, Vendors, Inc., had owners' equity of $50,630. During the year, net income was $6,850 and the company paid dividends of $4,630. The company also repurchased $8,930 in equity. What was the owners' equity account at the end of the year
Answer:
Owner's equity at the end = $43920
Explanation:
Given below is the informations:
Begining equity = $50630
Net income = $6850
Dividend paid = $4630
Repurchased = $8930
Below is the calculation for the owner's equity at the end.
Owner's equity at the end = Begining equity + Retained earning - Repurchased
Retained earning = 6850 - 4630 = 2220
Owner's equity at the end = 50630 + 2220 - 8930
Owner's equity at the end = $43920
How water utility company caters for their interests and what may happen if their expectations are not met.
You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at 3.9 percent indefinitely. The company just paid a dividend of $3.62 and you feel that the required return on the stock is 11.7 percent. What is the price per share of the company's stock
Answer:
$48.2
Explanation:
The increase in dividend is 3.9%
= 3.9/100
= 0.039
The recently paid dividend is $3.62
The required return is 11.7%
= 11.7/100
= 0.117
Therefore the price per share of the company stock can be calculated as follows
= 3.62(1+0.039)/0.117-0.039
= 3.62(1.039)/0.078
= 3.761/0.078
= 48.2
Hence the price per share is $48.2
